USDHKD Down 0 Pips Over Past Hour, 26 Day Up Streak Ended; Pin Bar Pattern Appearing on Chart

Hourly Update

(Last Updated September 23, 2020 0:13 GMT)

Currently, USDHKD’s rate is down 0 pips (0%) from the hour prior. USDHKD has seen its price go down 5 out of the past 5 hours, thus creating some compelling opportunities for bears. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Of note is that the 50 hour changed directions on USDHKD; it is now pointing down. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

USDHKD End of Day Recap

Updated 00:30 GMT (04:30 EST)

After 26 down days, USDHKD snaps its streak, rising 4 pips (0.01%) over the past day to close at an exchange rate of 7.75002. Out of the 40 instruments in the Forex asset class, USDHKD ended up ranking 21st for the day in terms of price change. The price chart of USDHKD below illustrates.

USDHKD

USDHKD Technical Analysis

Moving average crossovers are always interesting, so let’s start there: USDHKD crossed above its 20 day moving average yesterday. Or to simplify this another way, note that out of the past 30 days USDHKD’s price has gone up 2 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!


Forex Frank is a forex analyst and market commentator with nearly two decades of experience in currency trading. Follow him on social media: Facebook | Twitter | Instagram